European Regulators Shift Attention Towards Cards

Money Transfer giants Western Union Co. and Moneygram International Inc. have both said they are looking into digital currency bitcoin as a way to facilitate money transfers around the world, according to Dow Jones newswires:

The firms have no immediate plans to add bitcoins as a currency option for customers, though both say the increasing popularity of the virtual money has prompted them to consider whether they should make it available in the future.

Although bitcoin has received a lot of attention, questions about its value and the stability of the currency mean that it is not quite ready for prime time. The digital currency may be in a chicken and egg situation in that until it gets recognition from mainstream companies, it may have problems maintaining stability, but until it gains stability, it won’t receive recognition from mainstream companies.